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Advisian Wins Contract with BP and Partners on Net Zero Teesside Power

Advisian Wins Contract with BP and Partners on Net Zero Teesside Power

AdvisianWorley’s global consulting business, has been awarded a contract by BP and its partners to be the Lenders’ Technical Advisor (LTA) for two interdependent sub-projects: Net Zero Teesside Power (NZT Power) and the Northern Endurance Partnership (NEP).

NZT Power, a joint venture between BP and Equinor, is a first-of-a-kind fully integrated gas-fired power and carbon capture project and a key driving force behind plans to make Teesside the UK’s first decarbonized industrial cluster. This project, enabled by the NEP, plays a key role in positioning the UK one step closer to its net-zero vision.

The NEP project consists of an onshore network of pipelines gathering carbon dioxide from multiple industrial emitters in Teesside and Humberside. Followed by the transportation of the carbon dioxide by pipeline from Teesside and Humberside to an offshore geological storage facility in the Southern North Sea. The sponsor group for NEP is expected to include BP, Equinor, TotalEnergies, Shell, and National Grid.

BP selected Advisian to assess the projects’ technical risks, propose mitigation measures where required, and assist prospective lenders in all technical aspects supporting BP’s objective to secure financing. Advisian has brought together subject matter experts from a range of industrial sectors including carbon capture technology, with its proven project finance advisory team to execute this contract.

As the LTA, Advisian will support lenders throughout the multi-year contract period, which spans an initial due diligence of the projects leading up to financial close. This will then be followed by periodic project reviews for the lenders through EPC execution, performance testing and the operations phase of the projects.

“It’s time to convert thinking into action and we must act now if we want to unlock our decarbonization ambitions and provide energy security,” said Steve Mabey, Advisian Vice President, EMEA.

“Technologies such as CCUS hold the power to achieve this through enabling more options to lower carbon emissions and accelerating the pace that we deliver energy transition infrastructure.

These projects reinforce our commitment to collaborate with our customers, governments and the wider supply chain in navigating collective sustainability journeys.”

Manufacturing & Engineering Magazine | The Home of Manufacturing Industry News

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